Ann: Update on Link Fund Solutions, page-18

Paperlinx UK is an example of a subsidiary company that went broke and left several hundred million pounds of unpaid employee entitlements.
Under UK law, UK government covered the shortfall in employee entitlements. But the UK government did not go after the parent company Paperlinx Australia. Lots of Paperlinx subsidiaries in Europe went into liquidation. The only loan that was paid by Paperlinx Australia was one that was guaranteed by the parent company. Paperlinx Australia later changed its name to Spicers and was taken over by a Japanese company.
A settlement with FCA to me is likely anyway.